Home > Business > PTI > Report

Hutch-Essar plans to invest Rs 1,656 crore

August 19, 2003 16:05 IST

Telecom company Hutch-Essar on Tuesday said it is planning to invest about Rs 1,656 crore ($360 million) this year for expansion of its network and building capacity.

"Hutch Essar is planning to invest about $360 million during the calendar year, to be utilised towards network expansion, building capacity, installing value added services and revamping our IT systems," Asim Ghosh, managing director of Hutch Essar Telecom told PTI in New Delhi.

The network expansion would be undertaken in the circles of Delhi, Mumbai, Kolkata, Chennai, Andhra Pradesh, Karnataka, Gujarat, Uttar Pradesh (East), Rajasthan and Haryana.

"The investment is coming by way of internal cash flow in the joint venture and balance is funded from debt," Ghosh said.

Elaborating on capacity expansion, Ghosh said last year the capacity was pegged at 2.2 million subscribers, and was expected to reach 5.2 million users by the end of this year.

"The investment process has started and has been part executed...this investment amount is earmarked for the calendar year," he said.


Article Tools

Email this Article

Printer-Friendly Format

Letter to the Editor



Related Stories


IT mkt to touch Rs 1,96,105 cr



People Who Read This Also Read


US co to increase outsourcing

LPG subsidy to go by 2007

Cellcos to resist Reliance entry





© Copyright 2003 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.








Copyright © 2003 rediff.com India Limited. All Rights Reserved.